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Mindtree Picks Uniquely Designed Icertis Contract Management Software

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MindTree selects Icertis the Contract Management solution based on its end-to-end functionality, ease of use, and quick time to deployment. The contract management system improved Mindtree's contract turnaround times by 40%. – PowerPoint PPT presentation

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Title: Mindtree Picks Uniquely Designed Icertis Contract Management Software


1
MindTree Improves Contract Turnaround Times by
40 with a Contract Management Solution From
Icertis
Company Profile MindTree is a 400 million global
information technology solutions company and a
strategic partner to over 40 Fortune 500
enterprises. They employ 11,000 experts to
engineer meaningful technology solutions to help
businesses and societies flourish.
The Icertis Contract Management system was
designed to meet MindTrees unique contract
management challenges. It allowed them to manage
worldwide consulting business, and delivered
measurable results in the areas of cost
reduction, improved compliance and timely revenue
recognition.
Objective Create a new contract management system
to support MindTrees global consulting business.
Business Challenge MindTree had a large number of
customer contracts, created by business units
around the globe. The entire contract lifecycle
process was manual, which meant that meeting
contractual obligations was people dependent.
Without a centralized repository, it was
difficult to track commitments, expiries and
other milestones. There were frequent instances
of non-compliance.
  • Results
  • Searchable centralized repository of all
    contracts and supporting documentation
  • End-to-end automation for both template-based and
    3rd party contracts
  • Approval rules engine ensures that contracts
    conform to organizational standards
  • Deviations are tracked and routed for approval
    based on rules engine
  • New reporting features enable advanced risk
    assessment capabilities
  • SAP integration enables contract checks on
    invoicing

2
Icertis unique approach to building software is
evident in its Contract Management product.
Managing complex contracts across all our
business units and getting a single view of
various contracts was very important to us.
MindTree selected the Icertis solution based on
its end-to-end functionality, ease of use, and
quick time to deployment. Their product will help
take our contract management processes to the
next level.
Solution MindTree selected Icertis the Contract
Management solution based on its end-to-end
functionality, ease of use, and quick time to
deployment. The solution was specifically
designed to meet MindTrees unique contract
management challenges. The new system covers all
contracts, across all business units around the
globe. Some of the new features developed for
MindTree includes a rules engine for negotiation
and execution, a contract repository, role-based
alerts and a customizable dashboard for reporting
key performance indicators.
Results The Icertis contract management system
improved contract turnaround times by 40,
resulting in substantial productivity
improvements and most importantly, shorter
order-to-cash cycles. Different functional areas
found it easier to work together. Timely contract
renewals had a positive impact on revenue
recognition. MindTree gained tremendous value
through cost reductions, and achieved 100
compliance.
Rajesh Narang, Vice President Legal Company
Secretary, MindTree
About Icertis Icertis is the leading provider of
contract lifecycle management in the cloud.
Icertis Contract Management is an innovative,
easy-to-use platform that is highly configurable
and continually adapts to your complex business
needs.
Today, the Icertis platform is used to manage 2
million contracts, by 500,000 users, in 90
countries and 40 languages. With its intelligent
workflow and built-in analytics, the Icertis
platform provides ongoing contractual insights
and best-of- breed contract management enabling
customers to increase compliance, improve
governance and mitigate risk. icertis.com 1
844-404-2244 14711 NE 29th Place, Suite
100 Bellevue, WA 98007 All rights reserved.
Icertis 2017
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